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Govt fixes December 31 deadline for retro tax settlement scheme

Govt fixes December 31 deadline for retro tax settlement scheme

Government has fixed December 31, 2016 as the deadline for companies like Vodafone and Cairn Energy Plc to settle their retrospective tax disputes.

Cairn India, Vedanta merger only after tax liability settled: Government

Cairn India, Vedanta merger only after tax liability settled: Government

In a setback to mining mogul Anil Agarwal, the government today said it will not allow him to merge subsidiary Cairn India with his flagship firm Vedanta Ltd unless the Rs 10,247 crore tax issue is settled

Cairn faces Rs 10,247-crore fine on top of Rs 29,000 crore tax demand

Cairn faces Rs 10,247-crore fine on top of Rs 29,000 crore tax demand

In a circular to shareholders, the company said it had on February 4 received "a final assessment order from the Indian Income Tax Department in amount of Rs 10,247 crore plus interest back dated to 2007 totalling Rs 18,800 crore.

Govt lost Rs 1400 crore as Cairn not allowed to export oil: HC told

Govt lost Rs 1400 crore as Cairn not allowed to export oil: HC told

Cairn India Tuesday told Delhi High Court that a loss of Rs 1400 crore has been caused to the government as the company was forced to sell its share of crude from its Rajasthan oil field to private players at prices 20 percent less than the global rates.

Will seek $1 billion from India in damages: Cairn Energy

Will seek $1 billion from India in damages: Cairn Energy

British oil firm Cairn Energy Plc Tuesday said it will seek from India over USD 1 billion in damages for loss it suffered in value of its holding from a Rs 10,247-crore tax demand raised on its eight-year-old internal business recognition.

Cairn tax case: Laurent Levy named third arbitration

Cairn tax case: Laurent Levy named third arbitration

Geneva-based arbitrator Laurent Levy has been named as the presiding officer of the three-member arbitrator panel to resolve the Rs 10,247-crore tax dispute with British oil firm Cairn Energy plc.

British MP nudges Jaitley on Cairn Energy tax dispute

British MP nudges Jaitley on Cairn Energy tax dispute

In January 2014, Cairn was slapped with a Rs 10,247 crore assessment notice.

Cairn tax row: Will appoint arbitrator to resolve issue, India tells ICJ

Cairn tax row: Will appoint arbitrator to resolve issue, India tells ICJ

 India has told the International Court of Justice that it will soon appoint an arbitrator to resolve the Rs 10,247-crore tax dispute with British oil explorer Cairn Energy Plc.

Vedanta may discuss on sweetening Cairn India deal next week

Vedanta may discuss on sweetening Cairn India deal next week

The Board of mining billionaire Anil Agarwal-controlled Vedanta Ltd will meet on Tuesday amid talks of the company being forced to sweeten its offer for absorbing its cash-rich oil subsidiary Cairn India.

Tax issue: Cairn moves int'l court for appointment of arbitrator

Tax issue: Cairn moves int'l court for appointment of arbitrator

With government refusing to join arbitration to resolve the Rs 10,247-crore tax dispute, British oil explorer Cairn Energy plc has moved The Hague-based International Court of Justice seeking appointment of an arbitrator on behalf of the Indian government.

Cairn seeks quick resolution to tax row

Cairn seeks quick resolution to tax row

As the government grapples with its arbitration notice against a Rs 10,247 crore tax demand, British oil explorer Cairn Energy has said a quick judicial resolution to the issue will help restore confidence of retrospective tax-rattled international investors.

Rs 20K crore tax calculated on wrong principles: Cairn to HC

Cairn India on Wednesday told the Delhi High Court that the Rs 20,495 crore demand slapped on it by the Income Tax department has been calculated on "wrong" principles and it would come to around Rs 5000 crore.

What security can you give on Rs 20K cr tax demand: HC to Cairn

Delhi High Court today asked Cairn India how it would secure the Rs 20,495 crore demand slapped by the Income Tax department for its alleged failure to pay tax on gains made by its former parent company, Cairn Energy Plc, in a share transfer transaction eight years ago.

Cairn Energy Plc shares tank over 18% on tax notice in India

Shares of Scottish oil explorer Cairn Energy Plc fell sharply by over 18 percent on the London Stock Exchange after the company yesterday received a tax demand of Rs 10,247 crore (USD 1.6 billion) from Indian authorities.

I-T Dept slaps $1.6 bn tax demand on Cairn Energy Plc

I-T Dept slaps $1.6 bn tax demand on Cairn Energy Plc

Income Tax Department Tuesday slapped a Rs 10,247 crore (USD 1.6 billion) tax demand on Cairn Energy Plc, which termed the action as "very disappointing" and said it would contest the order.

Cairn says working with new govt to resolve tax dispute

Scottish explorer Cairn Energy plc Tuesday said it is working with the newly elected government to resolve a tax dispute that has stalled sale of its 10 percent stake in Cairn India Ltd.

Cairn Energy reduces staff to stem costs

Cairn Energy Plc said it will trim its business to keep a lid on costs as it continued losing money over the first half of the year.

Mike Watts, who found oil in Thar desert, to quit Cairn Energy

Dr Mike Watts, the man credited with discovering India's largest onland oil field in Rajasthan, will step down from the board of Cairn Energy plc in mid-May.

Cairn Energy suspends share buyback due to tax dispute

Cairn Energy had in October last year announced a USD 300 million programme to buy-back shares for cancellation.

'Cairn UK did not pay tax on Rs 24,503.50 cr of capital gains'

This payment that the UK firm received was against its entire investment of Rs 2,178.36 crore (251.22 million pounds) in the India business.